Ripple recently sealed a capital deal with MoneyGram, a US-based money transfer company, in which XRP will play a big role. There has been hype revolving around the notable partnership. Expectations of the deal aiding the surging course of XRP are glaring in the mist of its community members. However, a popular crypto analyst has something different, as he analysed what would aid Ripple XRP to test $28.
Ripple XRP is presently regaining its upward trend in the cryptocurrency market, reacting well to the price uptrend of Bitcoin (BTC) as the largest digital currency.
Ripple’s deal with MoneyGram is deservedly tagged as a capital deal, and this partnership is expected to expand the functionality and exposure of XRP. In the mind of many investors, the end result of the partnership in terms of price appreciation is much anticipated.
As at now, the partnership has not actually yielded notable price return, but there is possibility of a clear impact once the utilities of XRP is formally and fully implemented on the globally known payment company.
MoneyGram is said to possess relatively 350,000 agent locations all over the world. Exposing Ripple XRP usability to the huge number of customers garnered by the 79-year old money transfer company will be a big gain to the cryptocurrency ecosystem.
Bitcoin (BTC) was once trading below $100. Then, it seemed there was no hope of brighter future, but the story has obviously changed today. This is an indication that hope of seeing Ripple XRP at an unbelievable price in the future is not lost.
Ripple as a payment company continues to reveal its ground plans to improve the value of XRP as it competes with other digital assets in the market. At press time, XRP is trading at relatively $0.44, with 2.69% price surge in the last 24 hours.
Credible Crypto Believes Ripple XRP Could Attain 100 Times Its Low of $0.23
A popular analyst identified as Credible Crypto on Twitter has recently analysed the possibility of Ripple XRP reaching a significant price height, stating the trend it must follow.
In three consecutive tweets, Credible Crypto went down the memory lane of Bitcoin’s price trend. He said in 2013, BTC made a distinct price appreciation to $1,200, before it dropped in the bear market of 2014 and 2015.
He pointed that it took Bitcoin a year to recover from the devastating bear market, after which it experienced another massive bull run that took its price to $20,000, which is its All Time High.
THREAD: In 2013 $BTC made a 22x run to new highs of around $1200 before correcting in the 2014-2015 bear market. That was followed by nearly a year of accumulation and then a massive 122x run that took us to 20k. The bottoming pattern formed in 2014-2015 matches up (CONT.) pic.twitter.com/bBVSBIRNoX
— Credible Crypto (@CredibleCrypto) June 15, 2019
He continued by comparing the bottoming process Bitcoin experienced between 2014 and 2015 with the one Ripple XRP is undergoing presently.
He then concluded that Ripple XRP could be 100 times its lows of $0.23, which will be around $28 if it follows the price trend of Bitcoin.
“If XRP follows BTC, its next run could be over 100x its lows of .23. With a multiple equivalent to what BTC did on its last run to 20k, this puts XRP at around $28 which is a very reasonable expectation imo. Remember – the longer the consolidation, the greater the expansion.”
If $XRP follows BTC, its next run could be over 100x its lows of .23. With a multiple equivalent to what BTC did on its last run to 20k, this puts $XRP at around $28 which is a very reasonable expectation imo. Remember – the longer the consolidation, the greater the expansion.
— Credible Crypto (@CredibleCrypto) June 15, 2019
In the cryptocurrency sphere, any price trend is possible anytime. History usually repeats itself sometimes, but it could be positive or negative.
